Home › Forums › Financial Markets/Economics › The state of our Great State of California….
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January 16, 2009 at 3:05 PM #330499January 16, 2009 at 3:10 PM #330504XBoxBoyParticipant
Tell me why this won’t work….
Split the legislature into two houses. The house of revenue and the house of spending. Voters elect different representatives to both houses. The house of revenue can tax and raise money in whatever way they see fit, but can not spend money. The house of spending can spend money as they see fit, but can’t raise or change taxes or revenue generation. Nor can the house of spending spend more than the house of revenue provides them. (No funny accounting tricks here. The house of revenue provides X dollars and the house of spending can only spend up to X dollars, no more)
The way I see it, suddenly we have one batch of candidates that will campaign and answer for how little they will tax, and another group that will campaign and answer for how they spend. This will force the voters to face this problem and find a balance.
XBoxBoy
January 16, 2009 at 3:10 PM #330532XBoxBoyParticipantTell me why this won’t work….
Split the legislature into two houses. The house of revenue and the house of spending. Voters elect different representatives to both houses. The house of revenue can tax and raise money in whatever way they see fit, but can not spend money. The house of spending can spend money as they see fit, but can’t raise or change taxes or revenue generation. Nor can the house of spending spend more than the house of revenue provides them. (No funny accounting tricks here. The house of revenue provides X dollars and the house of spending can only spend up to X dollars, no more)
The way I see it, suddenly we have one batch of candidates that will campaign and answer for how little they will tax, and another group that will campaign and answer for how they spend. This will force the voters to face this problem and find a balance.
XBoxBoy
January 16, 2009 at 3:10 PM #330615XBoxBoyParticipantTell me why this won’t work….
Split the legislature into two houses. The house of revenue and the house of spending. Voters elect different representatives to both houses. The house of revenue can tax and raise money in whatever way they see fit, but can not spend money. The house of spending can spend money as they see fit, but can’t raise or change taxes or revenue generation. Nor can the house of spending spend more than the house of revenue provides them. (No funny accounting tricks here. The house of revenue provides X dollars and the house of spending can only spend up to X dollars, no more)
The way I see it, suddenly we have one batch of candidates that will campaign and answer for how little they will tax, and another group that will campaign and answer for how they spend. This will force the voters to face this problem and find a balance.
XBoxBoy
January 16, 2009 at 3:10 PM #330430XBoxBoyParticipantTell me why this won’t work….
Split the legislature into two houses. The house of revenue and the house of spending. Voters elect different representatives to both houses. The house of revenue can tax and raise money in whatever way they see fit, but can not spend money. The house of spending can spend money as they see fit, but can’t raise or change taxes or revenue generation. Nor can the house of spending spend more than the house of revenue provides them. (No funny accounting tricks here. The house of revenue provides X dollars and the house of spending can only spend up to X dollars, no more)
The way I see it, suddenly we have one batch of candidates that will campaign and answer for how little they will tax, and another group that will campaign and answer for how they spend. This will force the voters to face this problem and find a balance.
XBoxBoy
January 16, 2009 at 3:10 PM #330093XBoxBoyParticipantTell me why this won’t work….
Split the legislature into two houses. The house of revenue and the house of spending. Voters elect different representatives to both houses. The house of revenue can tax and raise money in whatever way they see fit, but can not spend money. The house of spending can spend money as they see fit, but can’t raise or change taxes or revenue generation. Nor can the house of spending spend more than the house of revenue provides them. (No funny accounting tricks here. The house of revenue provides X dollars and the house of spending can only spend up to X dollars, no more)
The way I see it, suddenly we have one batch of candidates that will campaign and answer for how little they will tax, and another group that will campaign and answer for how they spend. This will force the voters to face this problem and find a balance.
XBoxBoy
January 16, 2009 at 6:04 PM #330510MayerParticipant[quote=SD Transplant]Calif. tax refunds to be delayed starting Feb. 1
Jan 16, 3:40 PM (ET)
SACRAMENTO, Calif. (AP) – California’s controller says he will begin a 30-day delay on tax refunds and other payments starting Feb. 1 because the state is running out of money.
Controller John Chiang said Friday he must delay $3.7 billion in payments next month because lawmakers have failed to address California’s growing deficit.
With a $41.6 billion shortfall over the next year-and-a-half, the state is on the brink of issuing IOUs.
[/quote]…and welfare checks!!!
http://www.latimes.com/news/local/la-me-budget17-2009jan17,0,4472460.story
January 16, 2009 at 6:04 PM #330695MayerParticipant[quote=SD Transplant]Calif. tax refunds to be delayed starting Feb. 1
Jan 16, 3:40 PM (ET)
SACRAMENTO, Calif. (AP) – California’s controller says he will begin a 30-day delay on tax refunds and other payments starting Feb. 1 because the state is running out of money.
Controller John Chiang said Friday he must delay $3.7 billion in payments next month because lawmakers have failed to address California’s growing deficit.
With a $41.6 billion shortfall over the next year-and-a-half, the state is on the brink of issuing IOUs.
[/quote]…and welfare checks!!!
http://www.latimes.com/news/local/la-me-budget17-2009jan17,0,4472460.story
January 16, 2009 at 6:04 PM #330612MayerParticipant[quote=SD Transplant]Calif. tax refunds to be delayed starting Feb. 1
Jan 16, 3:40 PM (ET)
SACRAMENTO, Calif. (AP) – California’s controller says he will begin a 30-day delay on tax refunds and other payments starting Feb. 1 because the state is running out of money.
Controller John Chiang said Friday he must delay $3.7 billion in payments next month because lawmakers have failed to address California’s growing deficit.
With a $41.6 billion shortfall over the next year-and-a-half, the state is on the brink of issuing IOUs.
[/quote]…and welfare checks!!!
http://www.latimes.com/news/local/la-me-budget17-2009jan17,0,4472460.story
January 16, 2009 at 6:04 PM #330585MayerParticipant[quote=SD Transplant]Calif. tax refunds to be delayed starting Feb. 1
Jan 16, 3:40 PM (ET)
SACRAMENTO, Calif. (AP) – California’s controller says he will begin a 30-day delay on tax refunds and other payments starting Feb. 1 because the state is running out of money.
Controller John Chiang said Friday he must delay $3.7 billion in payments next month because lawmakers have failed to address California’s growing deficit.
With a $41.6 billion shortfall over the next year-and-a-half, the state is on the brink of issuing IOUs.
[/quote]…and welfare checks!!!
http://www.latimes.com/news/local/la-me-budget17-2009jan17,0,4472460.story
January 16, 2009 at 6:04 PM #330173MayerParticipant[quote=SD Transplant]Calif. tax refunds to be delayed starting Feb. 1
Jan 16, 3:40 PM (ET)
SACRAMENTO, Calif. (AP) – California’s controller says he will begin a 30-day delay on tax refunds and other payments starting Feb. 1 because the state is running out of money.
Controller John Chiang said Friday he must delay $3.7 billion in payments next month because lawmakers have failed to address California’s growing deficit.
With a $41.6 billion shortfall over the next year-and-a-half, the state is on the brink of issuing IOUs.
[/quote]…and welfare checks!!!
http://www.latimes.com/news/local/la-me-budget17-2009jan17,0,4472460.story
January 16, 2009 at 7:12 PM #330622paramountParticipant2 main problems in California:
1. The politicians are exaggerating with regard to state debt/deficit so that the coming tax increases will be more acceptable to the public
2. Public Employee Unions – they are absolutely sucking everyone and everything dry. They have destroyed this state, without a doubt.
January 16, 2009 at 7:12 PM #330596paramountParticipant2 main problems in California:
1. The politicians are exaggerating with regard to state debt/deficit so that the coming tax increases will be more acceptable to the public
2. Public Employee Unions – they are absolutely sucking everyone and everything dry. They have destroyed this state, without a doubt.
January 16, 2009 at 7:12 PM #330183paramountParticipant2 main problems in California:
1. The politicians are exaggerating with regard to state debt/deficit so that the coming tax increases will be more acceptable to the public
2. Public Employee Unions – they are absolutely sucking everyone and everything dry. They have destroyed this state, without a doubt.
January 16, 2009 at 7:12 PM #330706paramountParticipant2 main problems in California:
1. The politicians are exaggerating with regard to state debt/deficit so that the coming tax increases will be more acceptable to the public
2. Public Employee Unions – they are absolutely sucking everyone and everything dry. They have destroyed this state, without a doubt.
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